Some landlords in Labasa have given up to 50% discounts to businesses - Kumar

The President of the Labasa Chamber of Commerce and Industry Satish Kumar confirms that some landlords in Labasa have already given discounts of up to 50% to businesses while some have given a waiver to tenants for 3 months.

Kumar says most of the businesses in Labasa are finding it hard to pay rent due to the impact of COVID-19.

He says while conducting a personal survey with the retailers in Labasa Town, they have seen that business activity in Labasa has dropped by 80% which is why tenants are finding it difficult to pay rent.

He says they are still waiting for the decision of other landlords on whether they will take proactive measures or keep their rental rate as it is.

Kumar says on Thursday, the Labasa Chamber of Commerce and Industry called a joint meeting with the landlords, tenants, Fijian Competition and Consumer Commission’s Regional Manager North, Sheik Yusuf and Fiji Revenue and Customs Service representative to discuss the issue.

He also says that a few landlords have been very cooperative during the meeting and went up to reducing 50%, 35%, 20% and 15% rent.

Kumar says the representatives present in the meeting have taken the matter to their directors and have said that they will look into the issue.

He says that the FRCS representative has explained to the landlords about the initiative that was announced by the Minister for Economy, Aiyaz Sayed-Khaiyum that the landlords who reduce rent will be able to claim that amount from the tax deductions.

Kumar says FCCC Regional Manager, Sheik Yusuf has requested the landlords in Labasa to cooperate and help each other during this difficult time.

The President says rent for businesses in Labasa varies from $2,500 to $7000.

He adds that most of the shops in Labasa have not paid rent yet but some businesses will start paying rent now after getting discounts.